What changed between the draft committee report and the plenary report

DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

7 unchanged paragraphs

on the proposal for a decision of the European Parliament and of the Council amending Directive 2013/34/EU as regards the time limits for the adoption of sustainability reporting standards for certain sectors and for certain third-country undertakings

(COM(2023)0596 – C9-0386/2023 – 2023/0368(COD))

(Ordinary legislative procedure: first reading)

The European Parliament,

– having regard to the Commission proposal to Parliament and the Council (COM(2023)0596)),

– having regard to Article 294(2) and Article 50(1) of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C9-0386/2023),

– having regard to Article 294(3) of the Treaty on the Functioning of the European Union,

Added:– having regard to the opinion of the European Economic and Social Committee of 13 December 2023,

– having regard to Rule 59 of its Rules of Procedure,

Changed:– having regard to the reportopinion of the Committee on LegalEconomic Affairsand (A9-0000/2023),Monetary Affairs,

Removed:1. Adopts its position at first reading, taking over the Commission proposal;

Added:– having regard to the report of the Committee on Legal Affairs (A9-0013/2024),

Added:1. Adopts its position at first reading hereinafter set out;

2. Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;

3. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

Change 1

Added:Title: DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL

Added:Recital 3: (3) To reduce the reporting burden on undertakings, as set out in the Commission Communication on ‘Long-term competitiveness of the EU: looking beyond 2030’10, undertakings should be allowed to focus first on the implementation of sustainability reporting requirements laid down in Delegated Regulation (EU) XX/XXX. For that reason, the time limit for the adoption of the delegated acts containing the complementary sustainability reporting requirements referred to in Article 29b(1), third subparagraph, of Directive 2013/34/EU should be postponed by 2 years. However, this does not prevent the Commission from publishing the sector specific sustainability reporting standards before that date and the Commission should endeavour to adopt eight of the sector-specific sustainability reporting standards as soon as each is ready.

Added:Recital 3 a (new): (3a) Undertakings in the same sector are often exposed to similar sustainability-related risks, and they often have similar impacts on society and the environment. Comparisons between undertakings in the same sector are especially valuable to investors and other users of sustainability information. Sustainability reporting standards should therefore specify both information that undertakings in all sectors should disclose and information that undertakings should disclose depending on their sector of activity. Sector-specific sustainability reporting standards are especially important in the case of sectors associated with high sustainability risks for or impacts on the environment, human rights and governance, including sectors listed in Sections A, B (including oil, gas, mining and coal) to H, K and L of Annex I to Regulation (EC) No 1893/2006 of the European Parliament and of the Council, and the relevant activities within those sectors. When adopting sector-specific sustainability reporting standards, the Commission should ensure the information specified by those sustainability reporting standards is proportionate to the scale of the risks and impacts related to sustainability matters specific to each sector, taking account of the fact that the risks and impacts of some sectors are higher than for others. The Commission should also take account of the fact that not all activities within such sectors are necessarily associated with high sustainability risks or impacts. For…

Added:Recital 5 a (new): (5a) In order to foster democratic control, scrutiny and transparency, the Commission should, at least once a year, consult the European Parliament, and jointly the Member State Expert Group on Sustainable Finance and Accounting Regulatory Committee on EFRAG’s work programme as regards the development of sustainability reporting standards. EFRAG’s work programme as regards the development of sustainability reporting standards should include information on its planning, prioritisation and timelines for future draft standards and other deliverables.

Added:Article -1: HAVE ADOPTED THIS DIRECTIVE

Added:Directive 2013/34/EU

Added:Article 1 a (new), Article 29b – paragraph 1 – subparagraph 3 a (new): In Article 29b(1), a new subparagraph is inserted before the fourth subparagraph: / 'The Commission shall endeavour to adopt eight of the sustainability reporting standards referred to in point (ii) as soon as each is ready.'

Added:Article 2: This Directive shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.